Esquire Industrial plant operates five days per week with a daily payroll of $4,000 . Employees are paid every Saturday for the workweek just completed (Monday through Friday). The last day of the month is Wednesday, March 31 . What is the effect of the correct adjustment at March 31?
a. Increases stockholders' equity and Wages Payable by $8,000
b. Increases Wages Payable and decreases Cash by $12,000
c. Decreases stockholders' equity and increases Wages Payable by $12,000
d. Increases Wages Payable and increases Wages Expense by $8,000
c
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What will be an ideal response?